Today we're going to talk about a different way to learn about property investing because
chances are the way that you're currently learning about property investing probably
isn't the most effective way that you can do it.
Hey guys, I'm Ryan from OnProperty.com.au.
I help people find positive cash flow property, but now so trying to help people build the
skills that they need to become a successful property investor.
And so just having some coffee here.
If I sound a bit different.
I have had pneumonia, which is terrible.
Pneumonia sucks in bed for three weeks, coughing up blood, all that good stuff.
So if I sound a bit different, that is why, and I apologize.
So to talk about a different way of investing in property, we're learning about investing
in property.
Let's first look at the way that most people go about learning how to invest in property.
The way that I went about learning out how to invest in property and that is through.
We start with property magazines, things like money magazine, your investment, Property
magazine, Api magazine, that sort of stuff.
Or we go on websites.
We might go on, on property, we might get onto more popular websites.
So if I just flip the camera around here and here's your investment property mag website
as well.
We've got Michael Yardney's property update website as well.
Two great websites about investing in property, but what we'll find is that a lot of the content
on these websites is kind of about the general market at the moment, so we can see on Michael
Yardney's site proposed reforms to negative gearing.
So you can learn about that.
Good news for the Melbourne property market, weekly economic update, stuff like that.
If we look at property investment mag, we can see housing supply, well short of demand
in Tasmania.
So that's looking at kind of the local region, talking about planning growth in Australia's
largest cities.
Properly prices rose in December, so it's all kind of localized sort of stuff.
So it's all news items and what's happening now.
And so we spent a lot of time reading about what's happening now and what the market's
like now, property hotspots and all of that sort of stuff.
And so what I want to propose today is that you go about learning how to invest in property
in a different way.
When it comes to successfully investing in property.
There's a lot of different elements at play.
All right?
So there's so many different strategies that you can use to invest.
That's not what I'm talking about.
I'm talking about when you invest in property, there's a lot of different things that you
need to know how to do and how to do well in order to increase your chances of success
in property.
So one of those skills would be market selection.
So choosing your broader market, so what state you're choosing, what city you're choosing
or what region.
So finding the good areas and looking at where in the cycle those areas are.
If you can choose the right area, that's going to increase your chance of success.
Another skill is then suburb research.
So once you've chosen your local region, looking at the suburbs within that region and finding
the best suburbs that are most likely to increase in value, that's another skill in and of itself
that's completely different from choosing the region.
And if you're good at that skill and you can find a good suburb, then you can almost invest
in anything in that suburb and chances are it's going to go up in value because a rising
tide will lift all boats.
But if you don't have those skills, so if you don't choose the right region or don't
choose the right suburb, then your chance of having success is going to be less.
Sorry, Google talking to me in the background, I don't know why.
So that's going to decrease your chances of success.
Now that's just two skills that I've looked at.
There's also inspecting properties, there's talking to real estate agents, negotiating
with real estate agents, working with solicitors and conveyancers, all of these sorts of things.
So there's so many different skills that you need in order to successfully invest in property.
And the problem that I think we have is that we go on websites like this and we read articles
about the growth in Australia's largest cities.
So if we go ahead and check out this article, we can read about that.
But that doesn't actually get us any closer to investing in property and we still feel
overwhelmed because let's face it, investing in property is pretty overwhelming.
There's so many things to think about.
You're talking about a lot of money, like there's probably going to be your biggest
purchase of your lifetime unless you buy another property, in which case that might be your
biggest purchase, but property is generally people's biggest financial purchase in their
lifetime.
And so it's pretty stressful.
It's pretty overwhelming and there's so many things to think about and when you are just
consuming property content that is about the current market, you're just consuming content
about the Australian property market, about the changes to negative gearing and all this
sort of stuff.
While that is useful as an investor, if you don't have the skills that you need to successfully
invest in property, then that's stuff that you're learning is kind of pointless because
you don't have enough skills to actually move forward and invest in property.
And so what I want to propose is that you take a different approach to learning about
investing in property.
A really great episode that I did with Ben Everingham from pumped on property called
4 properties to financial freedom.
In that episode, Ben talked about how investing in property, it's kind of like when you go
to the gym, you don't go to the gym once and then you're already fit and you've got six
pack abs and stuff like that.
You got to start going to the gym and work out over time in order to get fit and get
the body you want.
In fact, my wife just went to pilates yesterday for the first time and she's so sore today.
She's probably going to have to have a week off before she goes back again, but that's
kind of the thing.
You've got to start slow.
It's very hard in the beginning, but then as you do it, you become fit and then it's
just about maintaining it and it's a lot easier.
You can think about the same with property that there's a lot of skills that you need
to acquire and in the beginning it's very overwhelming, but rather than trying to do
it all at once, just focus on one thing, so it's like, just go to the gym once, you know,
just focus on one skill that you want to acquire in order to become a better property investor.
And so with that 4 properties to financial freedom episode.
Seriously, no joke.
Best episode I've ever done.
It was episode nearly.
It was 488, so we're nearly up to episode 500, 500 episodes and I can happily say that
that's the best episode I've ever done.
Such a good concept.
I feel like me and ben communicated with each other really well.
That was actually at the start of my pneumonia as well, so I was only just getting pneumonia
then didn't know how sick I was, just thought I had the flu, the normal flu.
But yeah, great episode.
So you've go to OnProperty.com.au/488 to check out that episode.
You won't regret it.
Best episode ever.
OK, so we're talking about this different way to learn about investing in property.
So what I'm suggesting that you do is rather than reading articles about the current state
of the market and all this sort of stuff, I think these articles are great and I think
if you're ready to invest, so you've got your deposit, you'd build up some skills, you feel
like, yeah, I'm ready to move forward and actually buy a property in the next few months.
Then these articles that are key because they help you choose your region, they help you
understand the market cycles and stuff like that.
So I'm not downplaying these articles at all.
I think they are important, but I think for so many people they get distracted by them.
And so what I'm suggesting is that you look internally at what there is to learn about
investing in property in terms of the skills that you will need.
So as I mentioned, you can look at how do I research a regional area, how I choose my
market sorry.
So how do I know what city that I want to invest in, whether I want him to us in Melbourne,
Sydney, Brisbane, Wollongong, Gold Coast, Adelaide, Perth, or these sorts of areas.
How do you know which one you want to go ahead and invest in?
So that's one skill there and another one is researching suburbs.
So I've got a course on suburb research, not trying to plug the course.
If you do want to do it go to OnProperty.com.au/suburb, but basically in that course I look at it
about 20 different data points, so 20 different indicators of a sub suburb data that you can
collect for free and I look at how you can collect that data, how you can make sense
of that data and how you can compare suburbs to each other.
So that's a whole nother skill.
They're using realestate.com.au to find properties.
That's another skill.
Choosing a strategy that is going to suit your needs.
That's a skill in and of itself in a very difficult thing to do, especially when you've
got blogs and podcasts and seminars and books, talking about the newest fandangled property
investment strategy that's going to make you rich in the next three years and financially
free instantly.
When you got these shiny objects that are out there it can be very hard to choose a
strategy, stick to a strategy.
So choosing a strategy is another skill in and of itself.
So I mentioned a few things here.
Financing, understanding financing, what you can and can't borrow.
That's another thing that you need to do and there's so many different things that you
can work on.
It might actually be that you don't even have a deposit yet, and so you need to work on
the skills of money management and the skills of saving money, which let's face it, we all
need to work on those skills.
But that might be where you're at.
So basically I suggest that you look at where you're at, at the moment, let's just have
a coffee break, one sec.
So look at where you're at at the moment
in terms of your property journey and look at something that you can learn and so rather
than looking at the Australian property market and how things are going in cities that you
never plan on investing in.
Look at yourself and say, what do I need to learn to be a confident and successful investor.
And don't get overwhelmed by how much stuff there is out there to learn because you're
never going to learn it all straight away, and so what you need in order to become successful
is you need to build these skills out one at a time and you build them up slowly.
You can invest in property without having all the skills.
A great way to learn the skills is to start investing and to learn from your mistakes.
You don't need to have everything down pat before you move forward and invest, but just
pick one thing and just focus on working on that, so focus on learning that skill.
Getting better at that because you'll find like, OK, let's talk about one skill.
Finding positive cashflow properties.
This is a skill that I learned years and years ago.
I read Steve McKnight's book 0-130 properties in 3.5 years.
I was passionate about positive cash flow property, but in the book he doesn't talk
about how to find these properties.
How the heck did Steve Find 130?
I don't know.
So I went on real estate.com.
I had to fumble my way through it, learning how to find those properties and I just kind
of tried different things, found out what worked, was able to find one strategy that
works and then another and so I've got a few different strategies now that I know how to
find positive cash flow properties.
So I actually share positive cash flow properties with my members and so I'm finding these properties
every single week.
But for me
that's a skill that I learned years ago but it's not a skill that I need to consistently
work on really.
Like I can just do it like finding positive cash flow properties for me now.
Super Simple, super easy.
I imagine if I was to ask you, go and find me 7 positive cash flow properties for this
week because I list one every day that would probably be a struggle for most people to
do that, whereas for me, I know how to do it, so it's fairly simple to go out and find
that and to share that with my members.
And so yeah, that's just an idea that this is a skill that you work on learning it and
that took me a lot of time to learn that skill.
Now I have a course on it as well.
Um, I'm not trying to plug all my stuff.
I don't know.
It just keeps coming up anyway.
I learned that skill, that skill is now done.
OK, I've learned that I know how to do it.
I can now move on to the next skill and I can build it up over time so I know how to
find positive cash flow properties and have to spend time learning that anymore.
So now that I've got free time because they don't have to learn that I can go and learn
something else.
I can go and learn about suburb research, for example, so to summarize, coming to the
end now.
Better way or different way, not necessarily better.
I think it's better, but I don't wanna I don't wanna say that a different way to look at
learning about investing in property is rather than learning about the current market cycles
and things like that or even learning about all the different strategies out there, like
there's so many books on so many different strategies, focus on the skills that you'll
need to invest in property and work on those skills at this point in time.
So wherever you're at, pick a skill and focus on working on that skill.
Now this won't just be consuming content.
A lot of it will be that, so at OnProperty, over the next year, I'm really going to focus
on this idea of skills that you need to become a successful property investor and creating
a lot of content around those particular skills that you need.
So obviously you can check out OnProperty.com.au for content on this sort of stuff.
I'm going to be focusing heavily on that this year.
I just lost my train of thought.
Did Not know where I was going with that.
Oh yeah, I was saying you will be consuming content, but you're also be practicing as
well.
So let's say you consume my course on how to find positive cash flow properties at OnProperty.com.au/find.
OK, I'll give you the link.
Fine.
All right, there you have it.
If you want the course, you can go over there OnProperty.com.au/find.
And that will be the course over there.
So let's say you do that course so you consume the content.
You learn how to find positive cash flow properties.
Well now your task rather than listening to another podcast is to spend some time using
the techniques that teach you to go out and to try and find positive cash flow properties
yourself all over Australia or in particular areas.
So you've got to go out and look for those opportunities and you practice that skill.
So you start by consuming content.
Then you practice that skill or let's say you learn about suburb research, so you consume
the content and then you go out and you start comparing suburbs so each other looking at
the data and once you do it, that's when you really get the skill and that's when you really
become successful at it and over time you'll build up one skill after another after another
and property investing all of a sudden goes from this huge overwhelming task that doesn't
make a lot of sense to just like, Oh yeah, I've got to find a property can do that, got
to find a good suburb.
I can do that, and so you can do all these steps and then eventually investing in property
becomes a lot easier.
It's not overwhelming and you'll get to the point where you've got all the skills that
you need to get started investing and then it comes time to look at the market cycles
and all these news articles and how that might affect you as an investor.
So start with the skills.
That's what I recommend.
That's what I'm going to be working on this year.
In terms of the content that I create in terms of helping you guys, so I'm really excited
for that.
I'm really excited to knuckle down and to teach you guys some stuff, some real practical
application sort of stuff.
Really excited to do that.
So yeah, different way to learn about property investing.
Something that you probably haven't heard before because I have not heard it before.
I kind of always knew this... no I didn't always know this.
They really discovered this in the last year and I was thinking about OK, what sort of
content and I'm going to create this year because let's face it, I've done nearly 500
episodes.
There's only so much content you create guys.
OK, don't want to rehash all the old stuff and I want to take a fresh approach and a
new approach to this.
And so this idea kind of came about as I was looking into what it takes to become the best
in the world at something.
I play a video game competitively and so I was looking at how can I improve as a player?
How can I potentially become one of the best in my country and this game?
And so I learned this idea of how you build skills upon each other that when you're learning
to become good at something.
So it could be a video game, it could be property investing that it actually consists of so
many tiny skills that you need and what you do is you work on one diligently consistently.
You get that down pat and then you move on to another one.
And so that's where this idea came from in the last year.
Excited that now my pneumonia is getting better so I can record content.
Um, and yeah, so if there's any, like if you're at a particular point in your property investment
career, you'd like Ryan I just really need some help on this particular thing, whether
it be money management, suburb research, analyzing cash flow, finding positive cash flow properties,
whatever it may be.
If you're that passionate person that really wants to learn and you're like, I'm just stuck.
Here's where I'm at, here's the skills.
I need a, but I can't find the content.
Shoot me an email ryan@onproperty.com.au and say, putting the title of the email skill
or skills I want to learn, uh, and then let me know and I'll try and create a content
around that and get it out as quickly as possible.
So yeah, really excited for this year.
Really excited for this new approach to investing in property and learning about investing in
property by focusing on the skills.
Uh, I hope you like it.
I don't see anything else out there like this.
And so yeah, hopefully I can bring something unique to the table this year, unique to your
life and help you move towards buying your next investment property and moving towards
financial freedom because that's the whole point of this freedom to live our lives, to
do work that we love, to spend time with our friends and our family to have experiences
that empower us and help people.
That's what I'm all about.
So that's where I want to get us to and that's where I want to help to get you to.
So best of luck out there.
Ah, hope you liked this episode.
And until next time,
stay positive for one.